Published on 5/24/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $18.4 million buffered enhanced return securities linked to S&P 500
New York, May 24 – Wells Fargo & Co. priced $18,399,000 of buffered enhanced return securities with capped upside and buffered downside due April 25, 2019 linked to the S&P 500 Index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 140% of the index return, subject to a maximum payment of par plus 20.58%. Investors will receive par if the index falls by up to 12.5% and lose 1.1429% for every 1% decline in the index beyond 12.5%
The agent is Wells Fargo Securities.
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return securities with capped upside and buffered downside
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Underlying stock: | S&P 500 Index
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Amount: | $18,399,000
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Maturity: | April 25, 2019
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Coupon: | 0%
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Price: | Par of 100
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Payout at maturity: | If index return is positive, par plus 140% of index return, subject to maximum payment of par plus 20.58%; par if index falls by up to 12.5%; 1.1429% loss for every 1% decline in index beyond 12.5%
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Initial index level: | 2,394.02
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Pricing date: | May 22
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Settlement date: | May 30
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Agents: | Wells Fargo Securities
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Fees: | 0%
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Cusip: | 94986R6F3
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